2024 Q4 Form 10-K Financial Statement

#000147793224006252 Filed on October 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2 2024
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $196.4K
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.906M
YoY Change -7.1%
Operating Profit -$1.906M
YoY Change -7.1%
Interest Expense $1.184M
YoY Change 11104.67%
% of Operating Profit
Other Income/Expense, Net -$1.197M
YoY Change -76.27%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$3.103M
YoY Change -56.09%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 581.2M shares 503.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $653.1K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $2.931K
Receivables
Other Receivables
Total Short-Term Assets $664.2K
YoY Change 904.04%
LONG-TERM ASSETS
Property, Plant & Equipment $3.995K
YoY Change -27.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $48.79K
YoY Change -51.67%
TOTAL ASSETS
Total Short-Term Assets $664.2K
Total Long-Term Assets $48.79K
Total Assets $713.0K
YoY Change 326.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.325M
YoY Change 38.13%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.325M
Total Long-Term Liabilities
Total Liabilities $9.325M
YoY Change 37.4%
SHAREHOLDERS EQUITY
Retained Earnings -$26.71M
YoY Change 12.99%
Common Stock $5.248K
YoY Change -99.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.753M
YoY Change
Total Liabilities & Shareholders Equity $713.0K
YoY Change 326.65%

Cashflow Statement

Concept 2024 Q4 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$3.103M
YoY Change -56.09%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.430M
YoY Change 21.82%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.163K
YoY Change -95.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.030M
YoY Change 448.65%
NET CHANGE
Cash From Operating Activities -$1.430M
Cash From Investing Activities -$8.163K
Cash From Financing Activities $2.030M
Net Change In Cash $591.5K
YoY Change -158.89%
FREE CASH FLOW
Cash From Operating Activities -$1.430M
Capital Expenditures $0.00
Free Cash Flow -$1.430M
YoY Change 21.55%

Facts In Submission

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CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61625 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1065945 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
653117 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61625 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024 xeri Conversion Of Convertible Notes Payable And Accrued Interest
ConversionOfConvertibleNotesPayableAndAccruedInterest
669182 usd
CY2023 xeri Conversion Of Convertible Notes Payable And Accrued Interest
ConversionOfConvertibleNotesPayableAndAccruedInterest
0 usd
CY2024 xeri Warrants Issued With Convertible Notes Payable Extinguishment
WarrantsIssuedWithConvertibleNotesPayableExtinguishment
66660 usd
CY2023 xeri Warrants Issued With Convertible Notes Payable Extinguishment
WarrantsIssuedWithConvertibleNotesPayableExtinguishment
2688128 usd
CY2024 us-gaap Development Costs
DevelopmentCosts
5500000 usd
CY2024 xeri Preorders And Reservations Amount
PreordersAndReservationsAmount
7000000000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26708915 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 xeri Working Capital Deficit
WorkingCapitalDeficit
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CY2024 xeri Reclassification Policy Textblock
ReclassificationPolicyTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain amounts included in prior year financial statements have been reclassified to conform to the current year presentation. These reclassifications did not have a material impact on the Company’s previously reported financial statements.</p>
CY2023 us-gaap Impairment Of Investments
ImpairmentOfInvestments
156460 usd
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
0 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
702116 usd
CY2024 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
196422 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2024 us-gaap Advertising Expense
AdvertisingExpense
4854 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
23348 usd
CY2024 xeri Warrants Issued
WarrantsIssued
118968828 shares
CY2023 xeri Warrants Issued
WarrantsIssued
104802161 shares
CY2024 xeri Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableStock
21250000 shares
CY2023 xeri Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Stock
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableStock
21250000 shares
CY2024 xeri Stock Issued During Period Convertible Notes Payable
StockIssuedDuringPeriodConvertibleNotesPayable
882527009 shares
CY2023 xeri Stock Issued During Period Convertible Notes Payable
StockIssuedDuringPeriodConvertibleNotesPayable
62283909 shares
CY2024 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
705895000 shares
CY2023 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
757395000 shares
CY2024 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1728640837 shares
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
945731070 shares
CY2024 us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.10 pure
CY2024Q2 xeri Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
220448 usd
CY2023Q2 xeri Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
220448 usd
CY2024Q2 xeri Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
-188195 usd
CY2023Q2 xeri Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
-137537 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
32253 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
82911 usd
CY2024Q2 xeri Office Leas Operating Lease Liability
OfficeLeasOperatingLeaseLiability
36197 usd
CY2023Q2 xeri Office Leas Operating Lease Liability
OfficeLeasOperatingLeaseLiability
92196 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
36197 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55999 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
36197 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
37112 usd
CY2024Q2 xeri Total Future Minimum Lease Payments
TotalFutureMinimumLeasePayments
37112 usd
CY2024Q2 xeri Present Value Discount
PresentValueDiscount
-915 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
36197 usd
CY2024Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5850000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
5850000 usd
CY2024Q2 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
50000 usd
CY2024 us-gaap Interest Expense Debt
InterestExpenseDebt
1070729 usd
CY2023Q4 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
200115 usd
CY2023Q4 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
20011500 shares
CY2024Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
227067 usd
CY2024Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
22706700 shares
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
643546 usd
CY2024Q2 xeri Exercise Price
ExercisePrice
0.09
CY2024Q2 xeri Convertible Notes Payable Aggregate Face Value
ConvertibleNotesPayableAggregateFaceValue
2700000 usd
CY2023Q4 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
0.01
CY2024 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-20298 usd
CY2024Q2 xeri Loans Fair Value
LoansFairValue
249702 usd
CY2024Q2 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
2180000 usd
CY2023Q2 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
100000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
47471 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2024Q2 xeri Convertible Notes Payable Net
ConvertibleNotesPayableNet
2132529 usd
CY2023Q2 xeri Convertible Notes Payable Net
ConvertibleNotesPayableNet
100000 usd
CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
220000 usd
CY2024 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
22000 usd
CY2024 xeri New Warrant To Purchase Shares Of Common Stock
NewWarrantToPurchaseSharesOfCommonStock
23200000 shares
CY2024 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
0.01
CY2024 us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P3Y
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
247254 usd
CY2022Q2 us-gaap Convertible Debt
ConvertibleDebt
0 usd
CY2023 xeri Proceeds From Convertible Bridge Loans
ProceedsFromConvertibleBridgeLoans
189886 usd
CY2023 xeri Decrease Increase In Fair Value Of Convertible Bridge Loans
DecreaseIncreaseInFairValueOfConvertibleBridgeLoans
57368 usd
CY2024 xeri Reclassified From Fair Value To Straight Debt
ReclassifiedFromFairValueToStraightDebt
-249702 usd
CY2023 xeri Reclassified From Fair Value To Straight Debt
ReclassifiedFromFairValueToStraightDebt
0 usd
CY2023Q2 us-gaap Convertible Debt
ConvertibleDebt
247254 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2023Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.00001
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
524853304 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
389433144 shares
CY2024 xeri Conversion Of Principal Amount
ConversionOfPrincipalAmount
220000 usd
CY2024 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
22000 usd
CY2024 xeri Common Stock Share Issued For Conversion
CommonStockShareIssuedForConversion
23200000 shares
CY2024 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
427182 usd
CY2024 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
42718200 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2024 xeri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Outstanding Weighted Average Remaining Contractual Terms89
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageRemainingContractualTerms89
P1Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2023 xeri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Outstanding Weighted Average Remaining Contractual Terms89
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionOutstandingWeightedAverageRemainingContractualTerms89
P0Y11M19D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
21250000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.12
CY2024 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P0Y1M17D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
21250000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.12
CY2024 xeri Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercisable Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableWeightedAverageRemainingContractualTerms
P0Y1M17D
CY2024 xeri Current Tax Rate Of Deffered Tax Assets
CurrentTaxRateOfDefferedTaxAssets
0.21 pure
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8112065 usd
CY2024 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
651651 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1600005 usd
CY2024 dei Auditor Name
AuditorName
Accell Audit and Compliance, P.A

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